The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-22
WY MEN INSURE THEIR lives.
Some of the Reasons for the Growing
Popularity Of Life Insurance.
Certain Protection for the Family-The
Liberal Features Of the Modern
Policy Contract.

One reason for the increasing popularity of
life insurance of late years, evidenced by the
increasing amounts of insurance annually taken
out, is the fact that it has come to be recognized
as the best investment one can make of COM
paratively small sum every year to secure to his
family at his death an amount which shall en-
able them to live in comfort, or at least give
them fair start with the world. Whatever
complications may attend mans affairs, how
ever he may be involved, the proceeds of a poll
cy of life insurance must go to the benefciaries
named therein, and cannot by any possibility be
diverted from this its proper use. Such has been
the decision Of the courts, and it is one which is
| manifestly just for the very basic idea of life
insurance is to furnish certain protection for the
| widow and the orphan. Business life. as too
many know to their sorrow, is full of uncertain
| ties, and the number of those who fail is alto
| gether out of proportion 10 those who succeed.
Realizing this, the prudent man of business
| sets aside an annual sum sufficient to insure the
possession by his family at his death Of a much
larger sum which is to be theirs and which can
not be taken from them. If misfortune
| come, nothing has been lost, but the family are
| simply so much better circumstanced than they
| otherwise would have BEEN Frequently. how
| ever life insurance policy is all there is for the
bereaved family to look forward to as a means
! of support
/
siderable period of time must elapse before its
| tangled affairs can be unraveled. The delays
and expenses Of administration are we'll
known TO require comment 1t is then, when
the necessity for ready money is so pressing,
| that life policy. convertible without expense
and almost instantly into cash, affords speedy re-
lief. Expenses of one kind and another are TO be
| met, and met at once; note may be due OF a
mortgage in danger of foreclosure, and it is then
| of all times that one learns to appreciate the
real value OF policy of life insurance.
In the case of merchant who has taken out
| an endowment poiicy--one payable to himself in
a certain number of years to his family in case
| OF his death before the expiration of that period
| failure in business cannot entirely undo him,
for, besides the chance of yet retrieving his
| fallen fortunes he has something to depend
upon in mis- declining years, or in case of his
death before the expiration of the endo wment
period the certainty that his family will be pro-
vided for.
tits for these and many other reasons tnatlife
insurance appeals so powerfully to business
men. Its claims npon the attention of salaried
and professional men are fully as strong and its
calls upon them quite as urgent Nothing can
be more certain than that death stops the salary.
What then is to become of the family If there
has been no accumulation of small savings, as is
not infreauently the case, or investment in
that best and surest form of protection for ones
self or family--a policy Of life insurance.
| The result Of the competition which has pre-
vailed among the life insurance companies for
several years has been to add many desirable
ness. The system itself, than which nothing
could be more Mechanically perfect, is still
unchanged, but the management of the business
generally has been distinguished. and the insti
tuition of life insurance itself made more attract
I've by a spirit of greater liberality the part
of the companies both in the form of policy con
tracts and in the settlement of losses. Each OF
the many kinds OF policies issued is suited to
some special need, while all are equally safe.
The Eon-forfeiting principle, anticipated in
actual practice by many of the companies
before it was enacted. into law, has been
| adopted by practically every life insurance
and In some cases the law is even less liberal in
its application to many classes of policies than
the terms which the companies themselves have
for many years voluntarily and freely granted.
| The modern life policy, indeed, renders s'assur
ance doubly sure" If kept in force its promise
is promptly redeemed upon the death of the as
sured If by the pressure Of untoward cir
curnstances he is unable to. continue the
payment of the stipulated premium
he and his family have not only
had insurance to its full value while the premi
ums were paid, but the assured is entitled te
and will receive the equitable value of his pol
icy, either in much actual cash or in paid -uT
insurance payable to the beneficiary at his
| demise.
The precautionary provision of the lfensur
ance contract, by which the company is allowed
ninety days in which to pay claim I'm order
that 1t may have a proper opportunity to inves
tgate the facts in the case, if investigation shall
be deemed necessary in justice TO the interests
, of the living policy holders), has been and il
, frequently waived, and very properly so, ant
losses nowadays are ordinarily settled, at least
with the more progressive companies, immedi
ately upon the presentation and acceptance O.
the proofs of loss In all this the representative
of the life insurance interest have but followed
the general law of progress and in so doing hav,
! been the means of increasing the strong hol,
this benefcent institution has acquired in tn
public esteem.